The Australian Dollar (AUD), British Pound (GBP) cross has a busy calendar this week led by the RBA cash rate and statement later today. This is followed by Aussie jobs numbers Thursday and UK Retail Sales Friday. The RBA is expected to cut interest rates from 4.35% to 4.10% in what could be a hawkish read with the central bank possibly considering no cut this time around at all. Consensus is that with a tight labour market, stubborn CPI governor Bullock could signal a shallower rate cut cycle for 2025. Also of note is UK inflation y/y with forecasts this could come in around 2.8% in January up from 2.5% which could send the GBP rallying.
Current Level: 1.9872
Resistance: 2.0000
Support: 1.9615
Last Weeks Range: 1.9638- 1.9943